Indian States Sign More Long-Term Coal Power Deals Over Rising Demand

The Indian state is signing more coal power deals over a long term to meet the surge in evening power demand, despite efforts to expand clean energy capacity, reported Reuters. 

Uttar Pradesh and Assam which recently withdrew incentives for clean energy projects are looking to sign purchase deals for at least 7 GW of coal fired power plants to be delivered in 2030, This rush in procurement is fueled by a rise in air conditioning demand under non-solar hours and the slow buildout of battery storage.

Leading Indian Power Producers to Invest ₹5.5 lakh crore to Expand Coal Energy by 2032

India’s leading power producers Adani Power, Torrent Power, JSW Energy, and state-owned NTPC are pushing to expand coal to more than 50GW by 2032 and have lined up investment ₹5.5 lakh crore, reported ET Energyworld. They will continue to invest in renewables.

This fresh investment comes after increasing demand for electricity from industrial, commercial, and residential segments as well as urbanisation. 

Indian Refiners May Buy More Russian Oil as the Discount on Urals Rise

Indian refiners may buy more Russian oil as the discount on Urals rise in the coming months as trade talks with the US drag on, reported Bloomberg. Discounts on Urals in November are $2 to $2.50 a barrel to Dated Brent. This is also cheaper than the July-August of $1 a barrel, when supplies were tight. 

Amid the tariff hikes from the US, India has also started talks with National Oil companies in the Middle-east and Africa for term deals for 2026. 

China Speeds Up Construction for Oil Reserve Site to Boost Crude Stockpiles

China is speeding up the construction of oil reserves sites to boost crude stockpiles after the escalation of Russian invasion on Ukraine that upended global energy flows this year. State oil companies including Sinopec and CNOOC will add 169m barrels of storage across 11 sites in the span of two years, reported Reuters. 

This plan will help mitigate China’s heavy dependence on foreign oil through storage and diversification of import sources and maintaining domestic production. The country is also rapidly developing renewable energy and electrifying its vehicles with oil consumption likely to peak in 2027. 

BP Projects India’s Oil Demand to Hit 9mn bpd by 2050, Coal to Stay Dominant

Spencer Dole, chief economist at BP projected that India’s oil demand will hit 9 million barrels per day (bpd) of total global consumption in 2050. Coal will remain the country’s largest source of energy in its current trajectory, reported Business Standard. 

Renewable energy is set to become India’s second largest source of primary energy in 2050 and largest in below 2 degree scenario. Energy consumption in the form of electricity will also go up by 30%.

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